THE HULL REPUBLICAN TOWN COMMITTEE
"The Party Of American Ideals... Liberty And Self Reliance"
|
WELCOME TO THE WEB PAGE OF THE HULL REPUBLICAN TOWN COMMITTEE EXECUTIVE OFFICERS: CHAIRMAN- DAVID C. GROSSACK VICE-CHAIRMAN- WALTER STONE TREASURER- PAUL GRATTA SECERATARY- JOSEPH CHASE ARTICLES
|
WHY THE POOR MUST VOTE REPUBLICANBy David GrossackThe Democratic Party has long postured as a party that is the friend of the underclass, the underpaid, the unemployed and those supposedly disadvantaged by race or ethnicity. Their solutions to the problems of their less fortunate constituents has generally been based on extracting monies from the productive sector of society and transferring it to the less productive sectors of society. What they have done is to 'institutionalize' poverty and dependency rather than make welfare and other programs of this nature very temporary measures to prevent dependency from becoming a multi-generational lifestyle that it seems to be in so many neighborhoods. The American taxpayer has been infinitely generous. Of course, we have no choice when tax time comes around. But our federal government is on the brink of insolvency. . The Republican party is predisposed towards solutions that can completely alter the landscape of poverty, dependency and government transfer payments. Democrats have blathered and whined about 'tax cuts for the rich.' This is demagoguery, not economics. The less fortunate should not feel slighted when the rich get tax cuts. When the wealthy get a tax cut, they don't put the savings under the mattress, or at least most won't. Some will bank it. The banks will lend it to businesses in the community who will create more jobs to benefit those who need jobs. The banks will lend it to those who build houses, those who need to borrow for college and those who need cars for those who need transportation to work. Others will invest in companies directly. Their investments will fuel research and development, plant expansion, the building of more retail outlets and ultimately more jobs and more consumer spending. Economists variously refer top this as " the multiplier effect " or ' the ripple effect. ' This is what will provide the economic environment for bringing people out of poverty. Taxes on large estates and larger incomes are poison for the economy. The money that is siphoned off by government is spent on bureaucracy, rarely on helping people. Money invested in the private sector builds a stronger and healthier economy that helps those among the poor that really want to improve themselves and look for a job. The Democratic majority in Congress is doing incalculable damage to the economy by taking no action towards the repeal of a disastrous idea that became legislation, known as Sarbanes Oxley. Sarbanes Oxley is literally wreaking havoc on hundreds of small, publicly traded companies that cannot afford the incredibly expensive accounting and reporting requirements this bill mandates. The legislation, sadly, was a bi-partisan effort at placating public alarm over the accounting scandals that were exposed in large companies in the aftermath of the Enron debacle. But Sarbanes Oxley was drastic overkill. New committees had to be formed to monitor relations between their companies and their auditors. Corporate executives who had little or nothing to do with accounting and finance have to sign pledges making them criminally responsible if their accounting and finance people make errors. Layers and labyrinths of new reports, new committees, new reporting responsibilities and disclosure rules have forced approximately $1 trillion out of public companies and into the hands of accountants, consultants and tax and securities lawyers since Sarbanes Oxley was enacted, according to one estimate. Many companies are now longer public as a result. Their shareholders are left holding the bag. Worse, companies have begun to leave the United States and do their stock offerings and exchange listings in London, Luxembourg and other locations. This has an incredible impact on the American economy, affecting all of us. When services are off shored, and opportunities are off shored, we all lose. Simply put, Sarbanes Oxley inhibits companies from raising money here. That means less building, less research, less expansion, fewer jobs, fewer training programs and less chances for the poor to climb out of poverty. New York Republican Mayor Michael Bloomberg has been among those concerned. As a former head of a financial news service and as mayor of America's financial capitol, Bloomberg should know. Vice President Cheney has also raised the issue. Advocates for the poor need to know why the economy often doesn't work well, and why the poor don't have meaningful access to the economy. The answers always include taxation and over regulation, although there are certainly other reasons. We can trust the Republican Party to be willing to tackle these issues while the Democrats just pander to the victims. |
|
NEWS PEOPLE ORGANIZATIONS
DISCLAIMER: THE COMMITTEE CHAIRMAN SUGGESTS THESE LINKS, THE ENTIRE COMMITTEE HAS NOT ENDORSED THEM. |
© 2008 THE HULL REPUBLICAN TOWN COMMITTEE all rights reserved.